Crude oil rises on lowered geopolitical risk
12/03/2018
Crude oil rises on lowered geopolitical risk
12/03/2018 07:33
Crude oil futures closed higher in the domestic market on Friday as the possibility of a meeting between U.S. President Donald Trump and North Korea’s leader prompted investors to take some geopolitical risk out of the equation for the crude market. News of the first weekly decline in the U.S. oil-rig count in seven weeks also contributed to oil’s price rise. Oil prices responded positively to an announcement late Thursday that Trump accepted an invitation to meet with North Korea’s Kim Jong Un. At the MCX, crude oil futures for March 2018 contract closed at Rs 4016 per barrel, up by 1.85 per cent, after opening at Rs 3934, against a previous close of Rs 3943. It touched the intra-day high of Rs 4041.
12/03/2018
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Crude oil rises on lowered geopolitical risk
12/03/2018 07:33
Crude oil futures closed higher in the domestic market on Friday as the possibility of a meeting between U.S. President Donald Trump and North Korea’s leader prompted investors to take some geopolitical risk out of the equation for the crude market. News of the first weekly decline in the U.S. oil-rig count in seven weeks also contributed to oil’s price rise. Oil prices responded positively to an announcement late Thursday that Trump accepted an invitation to meet with North Korea’s Kim Jong Un. At the MCX, crude oil futures for March 2018 contract closed at Rs 4016 per barrel, up by 1.85 per cent, after opening at Rs 3934, against a previous close of Rs 3943. It touched the intra-day high of Rs 4041.
